HDBank grants $20M in capital to Fulbright Vietnam

The signing ceremony on Sunday coincided with U.S. President Joe Biden's state visit to Vietnam on the occasion of the Joint Declaration: Upgrading Vietnam-U.S. Relations to a Comprehensive Strategic Partnership.

U.S. Presidential Envoy John Kerry and Scott Nathan, General Director of the U.S. International Development Finance Corporation (DFC), are present at the signing event. Photo courtesy of HDBank

HDBank capital will be used to match a loan from the U.S. International Development Finance Corporation to build a high-tech park at Fulbright University in HCMC.

This financial resource supports the construction of schools and facilities to improve the quality of teaching and student life, develop scientific research, and promote innovation.

According to a representative from HDBank, the partnership agreement is significant as it marks an essential development step between a large commercial bank in Vietnam and Vietnam's first institutions following the American liberal education model.

The event is also significant in regard to the 10th anniversary of the Vietnam-U.S. Comprehensive Partnership, as well as in light of the spirit of the two nations’ new Comprehensive Strategic Partnership relationship.

Dr. Scott Fritzen, President of Fulbright University Vietnam, said the cooperation will promote the realization of many projects in the partners’ development strategy.

"We are very excited about the changes this partnership will bring. This reciprocal capital will accelerate the process of building and developing advanced facilities, helping us quickly achieve our goals. We will become the leading academic, research, and innovation center in Vietnam."

Pham Quoc Thanh, General Director of HDBank, said that the signing is the bank's way of fulfilling its commitment to supporting education, science, and innovation in Vietnam.

"This capital will significantly contribute to the development of Fulbright University Vietnam, thereby shaping the country's technological and academic landscape and promoting positive development in the future," he added.

HDBank is one of the leading financial institutions in Vietnam, providing financial solutions for individuals and businesses. The bank also supports education, creativity, and national development through a variety of programs.

Fulbright University Vietnam was founded in 2016 as a result of the Vietnam-U.S. partnership. Fulbright provides global undergraduate and graduate education. The school utilizes the most recent advances in leadership, design, teaching, learning, technology, and other sectors, and it is committed to serving society through teaching and research.